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News Highlights: Top Company News of the Day

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08/13/2020 | 05:16am EDT
Covid-19 Vaccine Developer Soars in Shanghai Market Debut 

Shares in China's CanSino Biologics, one of several companies racing to develop a Covid-19 vaccine, leapt on their first day of trading on a Nasdaq-style tech board in Shanghai.

J.C. Penney Landlords Nearing Deal to Buy Bankrupt Retailer 

Two of J.C. Penney's largest landlords have emerged as the leading contenders to acquire the department-store chain's retail business out of bankruptcy, according to people familiar with the matter.

Facebook and Other Tech Giants Gird for Chaotic Election 

Social-media platforms are talking with federal officials as President Trump questions the legitimacy of voting by mail.

U.S. Mortgage Lenders Face New Fee to Cover Heightened Risks 

Fannie Mae and Freddie Mac said they would impose a new fee to insulate themselves from losses on refinanced mortgages they guarantee, a sign of potential turbulence in the housing market and a move likely to generate pushback from lenders.

Unloved Toshiba Stock Is About to Reward Suitors Again 

Activist investors have faced a setback at Toshiba, but there are nonetheless hopes the Japanese company's fortunes could change for the better.

Thyssenkrupp Sees Further Pain Ahead 

Thyssenkrupp swung to a third quarter adjusted loss of EUR415 million after sales and orders tumbled, and said that although it's seeing signs of stabilization, further action needed to reshape its business and balance sheet will weigh on the final quarter.

Carlsberg Warns on Profit 

Carlsberg said it expects full-year organic operating profit to fall 10%-15%, and that it has decided not to start the second tranche of its buyback program.

Zurich Insurance Profit Falls 40% 

Zurich Insurance reported a steep drop in first-half operating profit to $1.70 billion, and cautioned that it expects little growth this year in net earned premiums from property and casualty risk.

Deutsche Telekom Boosted by Sprint 

Deutsche Telekom raised its guidance for the year after it reported an above-forecast jump in second-quarter adjusted profit to EUR9.83 billion, thanks to the consolidation of Sprint.

Cisco to Pursue Deep Cost Cuts in Corporate Tech-Spending Slowdown 

Networking-equipment giant Cisco Systems posted its first annual revenue decline in three years and said it would pursue deep cost cuts as customer priorities have shifted during the coronavirus pandemic.


Stocks mentioned in the article
ChangeLast1st jan.
CANSINO BIOLOGICS INC. -3.68% 183 End-of-day quote.210.43%
CARLSBERG A/S 0.29% 843 Delayed Quote.-15.46%
CISCO SYSTEMS, INC. -0.61% 38.82 Delayed Quote.-19.06%
DEUTSCHE TELEKOM AG 1.19% 13.585 Delayed Quote.-7.86%
FACEBOOK INC -0.22% 278.12 Delayed Quote.35.50%
FREDDIE MAC 2.37% 1.94 Delayed Quote.-35.42%
NASDAQ COMP. 0.19% 11506.00579 Delayed Quote.28.23%
THYSSENKRUPP AG -0.24% 4.531 Delayed Quote.-62.36%
TOSHIBA CORPORATION -1.63% 2838 End-of-day quote.-23.40%
ZURICH INSURANCE GROUP LTD 1.67% 316 Delayed Quote.-21.73%
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